Case Law Details
Case Name : CIT Vs Shri Hariram Bhambhani (Bombay High Court)
Related Assessment Year :
Courts :
All High Courts Bombay High Court
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Issue- Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in upholding the order of the CIT(A) in which he had directed the Assessing Officer to tax 4% net profit on unaccounted sales of Rs.35 lakhs even though no evidence of unaccounted purchases/ expenses against such unaccounted sales was detected at the time of survey?
On 21st September, 2006, there was a survey operation under Section 133A of the Act on the Respondent Assessee. During the course of the survey, it was noticed that the Respondent Assessee has not accounted some of the sales ...
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